In this paper we investigate the structure of a collineation group G of a finite projective plane fl of odd order, assuming that G leaves invariant an oval £2 of n. We show that if G is nonabelian simple, then G = PSL(2, q) for q odd. Several results about the structure and the action of G are also obtained under the assumptions that n = 1 (4) and G is transitive on the points of ft.